Virtu Financial LLC Reduces Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Virtu Financial LLC trimmed its position in Texas Pacific Land Co. (NYSE:TPL) by 53.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 538 shares of the financial services provider’s stock after selling 619 shares during the period. Virtu Financial LLC’s holdings in Texas Pacific Land were worth $475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its position in Texas Pacific Land by 17.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 6,050 shares of the financial services provider’s stock worth $5,353,000 after purchasing an additional 915 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at about $211,000. Geode Capital Management LLC lifted its position in shares of Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after buying an additional 81,974 shares in the last quarter. M&T Bank Corp lifted its position in shares of Texas Pacific Land by 6.2% during the 3rd quarter. M&T Bank Corp now owns 922 shares of the financial services provider’s stock valued at $815,000 after buying an additional 54 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Texas Pacific Land by 6.1% during the 3rd quarter. Barclays PLC now owns 19,892 shares of the financial services provider’s stock valued at $17,600,000 after buying an additional 1,152 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the sale, the chief accounting officer now owns 584 shares of the company’s stock, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 114 shares of company stock valued at $137,200 in the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Stock Up 0.2 %

TPL stock opened at $1,198.97 on Monday. Texas Pacific Land Co. has a twelve month low of $467.62 and a twelve month high of $1,769.14. The stock has a market cap of $27.55 billion, a P/E ratio of 61.52 and a beta of 1.62. The business’s 50-day moving average price is $1,274.68 and its 200-day moving average price is $967.32.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.60 per share. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Texas Pacific Land’s payout ratio is presently 32.84%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.